RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$23.81 Consensus Target Price from Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$23.81.

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Desjardins upped their target price on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price target on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Scotia raised their price target on shares of RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a “sector perform” rating in a report on Thursday, August 6th.

RioCan Real Estate Investment Trust Price Performance

REI.UN opened at C$20.86 on Monday. The firm has a market capitalization of C$6.06 billion, a P/E ratio of 24.26 and a beta of 0.89. The stock has a fifty day moving average of C$22.03 and a 200-day moving average of C$21.27. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a 12-month low of C$18.06 and a 12-month high of C$23.25.

RioCan Real Estate Investment Trust (TSE:REI.UN) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share for the quarter. The business had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

RioCan Real Estate Investment Trust Company Profile

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada’s portfolio of retail-focused, increasingly mixed-use properties. The REIT’s property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada. Riocan’s tenants consist of grocery stores, supermarkets, restaurants, cinemas, pharmacies, and corporates. By geography, the company operates in Canada, which generates the majority of total revenue, and in the United States.